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Regulatory Relaxations for Startups- Clarifications relating to Issue of Shares

FEMA - 52 - Dated:- 11-2-2016 - RBI/2015-16/319 A.P. (DIR Series) Circular No. 52 February 11, 2016 To, All Authorised Dealer Category - I Banks Madam/Sir, Attention of Authorised Dealer Category - I (AD Category-I) banks is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, notified by the Reserve Bank vide Notification No. FEMA. 20/2000-RB dated 3rd May 2000, as amended from time to time. 2. Pursuant to paragraph 14 .....

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ly, the following is clarified: a. Issue of shares without cash payment through sweat equity: Reserve Bank of India vide Notification No. FEMA.344/2015 RB dated June 11, 2015 has permitted Indian companies to issue sweat equity, subject to conditions, inter-alia, that the scheme has been drawn either in terms of regulations issued under the Securities Exchange Board of India Act, 1992 in respect of listed companies or the Companies (Share Capital and Debentures) Rules, 2014 notified by the Centr .....

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